Did you have a question? It wasn't clear from your post.
Call them and make your offer. They have been pretty consistant on PFD with PIF or settlement. Yes it is their policy since last year. Good Luck! Keep us informed.
I'm on my phone right now otherwise, I'd copy and paste my reply in an earlier post about PRA (a week or two ago if you want to search my history). But in short, call them! They may not accept your offer but it will get the ball rolling and their system will be updated to reflect the notes of the call and your "willingness" to pay. They have their own internal scoring system to prioritize who to call vs who to ignore. And, in my experience, once you show a willingness to pay you'll begin to receive more frequent calls. I went from getting letters every few months to bi-weekly calls.
As I've told others, the discount you are able to negotiate is largely based on:
- The SOL: If the SOL has expired your leverage and negotiating power increases significantly (your debt is very likely passed the SOL which is why you received the letter with the clause about not suing).
- Your patience - It may take a few calls, giving the same spiel again and again, over a month or two before they agree. In the end, I paid 40% of the balance (60% discount)
- Timing - Pure speculation on my part but I think it's good to talk with them at the end of the month (quotas)
What is the total amount of the combined debt? It might help us better guide you on what their response will be or how to proceed?
In my opinion 750 is lower than they'll go. I'd only expect them to go that low if the debt is less than one year from falling off your reports. And, if that were the case, it would probably make more sense to wait it out,
That said, it's worth a shot!
As I said, it will take patience. It is highly unlikely you'll get near there on your first or second call. But, each time you talk to them I recommend you communicate the following:
- I'm not hiding. You have my number. I'm willing to pay today.
- I'm content to simply wait out the collections as I have no immediate need for new credit
- The SOL is past and you have no recourse. And $750 is a lot better than $0
As I mentioned previously, they have a scoring system they use to prioritize people's likelihood to pay. And I suspect once you've shown a willingness to pay, your score goes up and you get more calls. So... you'll probably need to go through this spiel a few times. If they say they can't do it politley end the call and wait until the next call.
Good Luck!
If you got the $. Get it over with. Offer them 750. If they bite, pay it. And say so long to them reporting on your reports and causing havoc on your scores.
